In an unusual ruling, the Maharashtra Electricity Regulatory Commission (MERC) has ordered Maharashtra State Electricity Distribution Company Limited (MSEDCL) to comply with its solar renewable purchase obligation (RPO) requirement for FY 2017-18 by March 2020 to fulfill the solar RPO requirement of the year. The MERC was examining the submissions made by the Maharashtra Energy […]
Day: March 29, 2019
Power Finance Corporation extends rally on acquisition of REC
Power Finance Corporation (PFC) shares hit a fresh 52-week high of Rs 124, up 6 per cent, on the BSE, after the company concluded the acquisition of Rural Electrification Corporation (REC) by paying Rs 14,500 crore to the Central government. PFC surpassed its previous high of Rs 123 recorded on March 19, 2019 in intra-day […]
Rescue deal is no panacea for struggling Jet Airways
Jet Airways’ investors are cheering this week’s government-led rescue deal, but the cash-strapped Indian airline’s future looks mired in uncertainty as convincing a new investor to come on board may not be easy. The airline, which was on the brink of bankruptcy, was bailed out on Monday by state-run banks, which have temporarily taken a […]
Govt raises natural gas price for April-Sept by about 10% to $3.69/mmBtu
India has raised the price of its locally produced gas by about 10 percent to $3.69 per million metric British thermal units (mmBtu) for the April-September period, compared with the previous six months, a source aware of the development said. India has also set the ceiling price for gas to be produced from difficult fields […]
Jet Airways misses paying $109 million loan from HSBC
Troubled Jet Airways India Ltd. missed a $109 million loan repayment due to HSBC Bank this week, people with knowledge of the matter said. The money was due on March 28, and was part of a two-tranche facility totaling $140 million that the company took from HSBC in 2014, according to the people, who asked […]
SC orders fresh environment study of new Goa airport
In a setback to the GMR group, the Supreme Court on Friday did not allow the construction of Goa’s new greenfield international airport and ordered an expert committee to study allegations that trees were being felled illegally. Directing the committee to undertake the assessment in a month’s time and submit its report to the court, […]
Bar on AI pilot ‘special meals’
Air India has instructed its pilots not to order “special meals” for themselves during flights as they are required to adhere to a “meal schedule laid down by the company”, according to an internal communication of the national carrier. “It has been brought to the notice of the undersigned that flight crew are ordering special […]
Calcutta airport rules relaxed for devotees
Followers of a religious guru parked their vehicles in front of the terminal building of the city airport for more than half an hour on Thursday afternoon, officials said. When challenged by marshals, the followers produced pieces of paper purportedly issued by police authorising them to park their vehicles in front of the terminal. Earlier […]
Tatas enter airports
The Tatas on Wednesday ventured into airports when it teamed up with an affiliate of Singapore’s sovereign wealth fund GIC and SSG Capital Management (SSG) to pick up a stake in the airport business of GMR Infrastructure. The consortium will invest Rs 8,000 crore in GMR Airports — a Rs 1,000-crore equity infusion in GMR […]
April-end comeback target for Jet fleet
Jet Airways hopes to have nearly 80 planes — almost 80 per cent of its fleet — back in the skies by the end of next month. A day after Naresh Goyal stepped down from the board of directors, and lenders prepared to take a 50.5 per cent stake in Jet Airways, senior executives of […]
DGCA needs time to vet Boeing fix
Civil aviation regulator DGCA on Thursday said it was too early to take a call on the solution given by Boeing for the 737 MAX planes, which have been grounded globally following two fatal accidents in the past five months. “Too early to say… we shall share the significant development once that happens,” a senior […]
Vijay Mallya cries foul at Jet Airways deal
Aday after the bailout of Jet Airways, Vijay Mallya, owner of now defunct Kingfisher Airlines, has hit out at the Modi government for not doing anything for him and accused the state-owned banks of adopting “double standards”. In a series of tweets, the fugitive liquor baron said he had not been recognised for his investments […]